St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-06-01
On the Chicago Board OF Trade Yester-
day the Receipts of Wheat Larger
Than Expected.
The Estimate of Arrivals Also Proved
Unusually Large, and Heavy Rains
Helped the Bears.
The Clique Men, However, We're Ready,
and Held the June Option at
Good Figures.
Transactions in the Financial Circles of
Wall Street.-The General
Quotations.
Special 10 the Globe.

CHICAGO May 3l-The scheming of the
CLIQUE in the great wheat deal remains the
only topic of discussion on change. The
receipts of grain for the three days realized
the estimates very nearly. There were LILO
ears of wheat, and ! ,054 cars of corn. The
effect was naturally to encourage the selling
of an option that did not present any danger,
rs june did. The clique had June protected
so effectively that instead of dropping under
SSc it advanced to soc. As for the next
month, July, with which, so far as it is pos
sible to see now, the clique is not meddling,
il at first was enough influence by the sup
port given to June to act steady at Sol2c and
Il little above The raiders sent it to S5I4c,
but ii Immediately reacted to S5l2G1Sos4c.
Ii was fought over vigorously for the first
hour. The visible supply figures were not
expected To have much effect. 1t was known
that they would not help the bulls much in
any .eyeut Stocks of wheat have
been shifted about so for the
last ten days, and so much wheat
rushed forward by the rich shorts that the
visible supply figures were not expected TO
be Il bull argument. An increase OF 10000
bu in wheat was consequently no surprise
when the official figures came ont. The
clearances from New York of 81 800 bu of
wheat in a single day about offset the unfa-
trading there was no raiding. 1t was known
that Flaggler, the Standard Oil millionaire,
who is supposed 10
HAVE SOMETHING TO DO
with the wheat manipulation, was at the
Grand Pacific hotel with three or four others
who have been connected by gossip with the
deal; and it was also reported that Rosenfeld
II Co., Kershaw & Co. and Irwin, Green Il Co.
had been furnished with a large amount of
funds. The grain gossips did not know that
Mr. Flaggler had q good excuse, as a Rock
Island director for being in town, and they
would probably not have accepted the eX-
PLANTATION if they had known it. The trouble
is, however that the Rock Island an
nual meeting is tomorrow, and that
all these Standard Oil magnates sat
down to Il dinner at II. II. Porter's
tonight. These engagements, however,
would not prevent their casting an eye over
the wheat deal. if they so choose. The tax
ing of the cash wheat by the clique may have
the tendency TO advance July simply from
this reason. With the cash wheat all in the
hands of the bull clique, especially if the
storage is about gone, a July short will begin
10 feel that his position is about as hazardous
as the June shorts. 1t was considered re-
markable that, with so large a reported June
shortinterest, the pit took the situation so
phlegmatically This was hard to explain.
1t might be due to the fact that the shorts
and the losers are the rich men this time
stayers US they like to call themselves-or it
may possibly be.because there is more cash
wheat against the shortage thansis generally
estimated Latest estimates on tomorrow S
receipts are for $50 cars wheat.
THE ROUTINE REPORT.
CHICAGO. Nav 3l.-Ihe receipts of wheat
to-day were even larger than expected and
the estimated also promised unusually large
arrivals. The heavy rains were also bear,
ish influence and the. clique apparently had
everything against them. They were pre-
pared for ii, however, and the large number
of June shorts who undertook to buy in their
stuff to-day had to pay higher prices. Early
in the day the clique eentered their efforts on
the support of June wheat, but were aided
very materially in sustaining the price of
June by the large short interest among the
crowd who undertook to cover, thereby bid
ding the price upon themselves. June
started at SSlsc and in less than fifteen min
utes sold to soc. The other options
9 DReRed barely a s ssse Th c oeng
of the first hours trading June
some. support from the ciiGae, sold up to,
S5ss9lS534c. An increase of 10000 blu i'll
the visible supply was something of a sur
prise to the crowd as slight decrease had
been booked, for however, as there was but
little trading, July only declined to S5SBc
and continued between that figure and S53lc
throughout the morning session. June was
still S2l2c at the close of the morning session.
A general covering of shortsin the afternoon
board induced higher figures on that option.
July advanced 10c and closed at sec. June
also closed a fraction higher at SSa4c. July
corn opened easier ut 39lsc. Toward the
close of the forenoon corn became very weak
owing to the estimated receipts, $50 cars for
tomorrow, and the small decrease i'll the Wis
GnnplV
hypothesis that ut at the present rate
at which corn is arriving the visible
will show no increase at all next week. July
sold down to 3S7sc. During the afternoon it
was more steady and closed higher at 39Isc.
Provisions opened firmer; July lard, S6.57l2;
July ribs at 81. l7l2. Toward the close of the
morning session provisions became weaker.
July ribs sold down TO S7.05 and July lard.t
S6.47l2. July ribs closed for the day at
S7.07l2 and July lard at $3.50. The official
visible grain supply statement shows an in
crease during the week of 100, 600 Blu wheat
and $4,000 bu oats, and decrease of 14O,-
600 blu corn, 81, 900 bu rye, and 10000 blu
barley. The total amount of wheat in the
visible is 1920, 900 bu, against 36,SSS, 600
on the corresponding date last year. Stocks
in Chicago are IA, 500, 900 bu, against H.
O35 900 year ago.
THE QUOTATIONS.
The leading futures ranged as follows:
Wheat-No; May, sslse, closing at sss4c;
closing at SIC; August. S37Bc, closing at
$3.50. Corn-No. . May, 37l2c, closing at
37lsc; June, 37lsc, closing at 37ssc; July,
39lsc, closing at 39lsc; August, 4O14c,
closing at 40l2c. Oats-No. 2 May 2534c,
closing at 251sc; June, 25s4c, closing at
251ac; July, 26asc, closing at 26s8c; Au-
gust, i26c. closing at 257sc Mess pork-Per
Dbl, May, $3.50, closing at $3.50; June,
$3.50, closing at $3.50. Lard-per 100
lbs, May, S6.45, closing at S6.37l2; June,
So 40, closing at ST. 37I2 July, Sc. 57I2 closing
at $780,. August, S6;65, closing at $3.50.
Short ribs-Per 100 lbs, May, sos,
closing at S6.95: June, S7.05, clos,
ing at S6.92l2; July, S7.17l2, closing at
S7.I07; August, S7.2e, closing at S7.17l2
Cash quotations were as follows: Flour
quiet and unchanged. No. 2 spring wheat,
S7A@1SS12c; No. spring wheat, 7S@SOc;
No. red, SS14c. Corn-No. 2, 3714c Oats
No. 3, 25c. Rye-No. 2, 54l2c Bar
ley-No. 2, SIC. Flax seed-No. l, 81. 12Ia.
Prime timothy seed, SLIT. Mess pork
per Dbl, S235O. Lard, per 100 lbs, S6.376
$40. Short ribs sides, loose, Sc. 95@
6.97l2; dry sailed shoulders, boxed, So Goa
$40; short clear Sides boxed, 81 40@7. As.
Whisky-Distillers' finished goods, per gal,
ST. Receipts-Flour, 2 900 bbls; wheat
$1,000 bu; corn, 300, 900 bu; oats, ia 600
bu; rye, 10000 blu; barley, $4,000 bu Ship.
ments-Flour, $4,000 bbls; wheat, 90, 600 bu :;
corn, $4,000 blu; oats, 100000 Blu; rye
1000 bu; barley, 5000 bu. On the produce
exchange to-day the butter market was
lower and receipts large; creamery, 13Ia@
16Ac; dairy, 11l2@14l2c. Eggs continue
firm at lie.
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